Employee Theft Costs U.S. Businesses $50 Billion per Year
According to a Hiscox study, U.S. businesses affected by employee theft lost an average of $1.13 million in 2016. Small and midsize businesses accounted for 68 percent of cases, and their median loss last year was $289,864.
The most common embezzlement scheme was funds theft (34.5 percent), followed by check fraud (22.1 percent). Seventy percent of all check fraud occurred at companies with fewer than 100 employees.